Innovation Parks, business Parks; Science Parks, Tech transfer offices, Innovation Districts – they all represent new economic development for cities, regions or countries.
But most innovation parks fail to achieve their potential. Why?
Our experience is that most innovation parks focus too much on the buildings, the master plan and real estate development. We call this the Hardware. While the Hardware is important, it is also insufficient.
Equally important (or even more important) is the software. This is the people, companies, local and international networks, the branding, the storytelling, the ability to attract companies and capital in a global marketplace.
Innovation Parks need to focus on the business model, governance model and their Value Stack.
Most importantly, Innovation Parks need to build strong Innovation Clusters or Innovation Superclusters to compete for global talent, capital and companies.
Engage // Innovate partners with Innovation Parks globally to build a long term strategy for success.